The Strategic Objectives of PAT address the planning period 2014-2019, and to be reviewed annually based on external audit of the operating environment. Following are the challenges faced by PAT in discharging its functions;
External Business Challenges:
PAT will continue to be subject to the following;
- Global environment
- Tonga’s economic and political environment
- International security and Terrorism
- Technology Advances
Internal Business Challenges:
- Improvement in customer service
- Sustaining revenue growth and profitability
- Clear strategic and commercial direction
- Upgrading of operational equipment and gear
- Infrastructure development to support the economy
The principal objective of Ports Authority Tonga is to operate as a successful business. As a successful business, the Authority will strive to achieve its targets set under its financial, customer, employment and environmental and social objectives. An important process undertaken in formulating strategic objectives for PAT involves identifying of internal and external challenges faced by the Authority and reset the new direction for 2014 and the next five years ending 2019.
Our current performance as compared to the Government’s expectations was considered as a significant strategic issue. Although the achievement of the Government’s targeted return on investment is recognized as the ultimate objective for PAT this is seen as a long term with the strategic goals and objectives for 2014 outlined below will realign to the shareholder’s expectations, customer expectations and continued delivery of the required outcomes.
- Shareholders’ Equity
- Return on Investment/Shareholder’s Equity
The strategies and objectives of the Authority have been reviewed with changes made including rearranging strategic priorities that will have significant impact on PAT performance in 2014 and potential growth for the five year period ending 2019. The major objectives are:
We recognize the important impact the achievement of our Vision and Objectives has on the economic wellbeing of Tonga and we will;
- Facilitate trade for the nation’s exporters and importers; and
- Provide infrastructure and services to facilitate the cruise ship industry.
- Provide infrastructure to promote domestic trade and transport with remote islands
We will grow our business in a profitable manner and maintain or exceed a rate of return as agreed with our Shareholder.
- To be financially self sufficient and viable on a commercial basis in the long run
- Ensure that all capital investment are financially justified , properly planned and can be funded
- Achieve the targeted rate of return but keep the customer cost at a competitive rate compared with regional ports
- Ensure that financial reports aligned with International Accounting Reporting standard
- Monitor financial obligations and performance are aligned with the Proposed Budget
- Meet all reporting obligation set by the Ministry of Public Enterprise
We will provide customers with unrivalled values.
- Ensure the provision of efficient Port facilities and services are established to meet customer needs
- Monitor customer complaints to make sure that they are kept to a minimal <5%
- Improve productivity and efficiency to control customer costs
- Ensure Government and community expectations are considered in Port planning and development.
- Improve two way communication with our users, community and stakeholders including Government agencies.
- Provide competitive and benchmarked Port charges, which are clearly nderstood by users and stakeholders.
Management and Staff Objective
We will develop excellent leadership and highly engaged staff.
- Staff are well trained and well managed to ensure competency and efficiency in performance
- Align personal goals with business goals to ensure business success and personal growth in the workplace
- Managed, communicate and encourage employee participation in business planned changes and operation to encourage employees to be associated with the organization
- Develop well planned organizational structure and clear task defined to ensure efficiency in performance
- Benchmark staff compensation to make sure competitive salary structure to minimize staff turnover.
Environmental and Social Objectives
We will develop excellent and admired organization, appropriately recognizing the interests of all stakeholders.
- Develop Environmental protection policies ensure that the Ports are environmental friendly
- Promote, plan and develop the Port in an environmentally responsible manner for the benefit of the government, industry customers and the community.
- Ensure Port operations are managed to reduce the environmental impact on surrounding marine, terrestrial and community areas.
- Respond to community concerns to address impact from port operations
Risk management Objectives
- Risk management is recognized by the Authority as an important process in managing risks that have been identified in the day to day operations of the Port.
- Analyze the risk associated with the port from its internal and external environment
- The Authority holds regular management meetings to discuss any new risks that may have been identified and formulate actions to mitigate those risks.
- The Authority will maintain a risk register of all risks identified in order to protect its infrastructure and human resource through minimizing these risks.